CORPORATION TAX RETURNS CHANGES AHEAD

Broadly all corporation tax returns (including form CT600, supplementary schedules, tax computations and company accounts) in relation to accounting periods ending after 31 March 2010 and submitted after 31 March 2011, must be filed online as paper returns will no longer be accepted. In addition, corporation tax and related payments must be paid electronically.

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FIRST DATA PROTECTION ACT FINES ISSUED

Data protection has hit the headlines again with news that two bodies have been issued with substantial fines by the Information Commissioner, Christopher Graham, after serious breaches of the Data Protection Act (DPA).

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CLASS 2 NICS – NEW PAYMENT ARRANGEMENTS

Class 2 national insurance contributions (NICs) are currently payable by the self employed at a flat rate of £2.40 per week in 2010/11 (rising to £2.50 per week in 2011/12).

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REAL TIME INFORMATION FOR PAYE

HMRC plan to introduce radical changes to the PAYE system. HMRC have published a consultation document “Improving the operation of Pay As You Earn: Collecting Real Time Information”.

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EMPLOYER SUPPORTED CHILDCARE

Changes had previously been announced to the tax breaks for employer-supported childcare and draft legislation has now been issued covering the changes which take effect next year.

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